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Canadian billionaire buys Napa winery for US$57 million
One of Napa’s oldest wineries, Vine Cliff, has been acquired by Canadian billionaire Stephan Crétier for more than US$57 million.
According to reports, Crétier, who is the founder of the GardaWorld global security empire, has bought the historic Napa winery, which dates back to 1871, via his company, SCW Fund Corp. of Delaware.
Crétier’s corporation acquired the winery from Nell and Charles (Chuck) Sweeney, the founder of the Landmark Hotels chain.
The 100-acre Vine Cliff Winery is located on a hillside east of the Silverado Trail in a wine spot officially known as the Oakville American Viticultural Area.
The deal, which was said to have been quietly registered in August, includes the winery, which can produce up to 48,000 gallons of wine a year, including Cabernet Sauvignon, Cabernet Franc, Pinot Noir, Zinfandel, Malbec and Riesling vintages. The property additionally includes 23 acres of planted vineyards, caves, a pond and a residence on a hill.
Crétier and his wife, Stephany Maillery, have also reportedly been publicly-identified owners of the Roy Estate winery on Soda Canyon Road in Napa county since 2017. The 42-acre estate’s wines are rumoured to sell for US$500 per bottle and more.
Crétier does have, according to reports, some California roots since he holds a Master of Business Administration degree from University of California.